Just before Xmas the former
disgraced Lib Dem Minister Chris Huhne was ranting about how the old have gained during the last few years while the young have lost out. One of the points he made was:
Who wants more supply and lower property prices? The young trying to get on the housing ladder. Who wants less supply and higher house prices? The old wanting to boost their retirement income.
Now there are lots of problems with this short sweeping statement. Leaving aside the simplistic young versus old point, does Chris Huhne really think that just increasing supply would reduce house prices? (he does!). Nothing about demand then? Nothing about tax policy. Nothing about increasing inequalities in income. Nothing about foreign investors driving up London house prices? Nothing about people purchasing second homes
or more than one second home – shhhh!
And whats this about ‘the old’ wanting to boost their retirement income? Most old people have one house which they live in and will pass on to their relatives, they do not own a string of properties from which they get an income! Mind you various media reports state that Mr Huhne has a number of properties!
‘The former energy secretary owns a portfolio of eight flats and houses’ (Evening Standard, http://www.standard.co.uk/news/politics/chris-huhne-would-escape-libdem-mansion-tax-despite-owning-eight-homes-8499707.html)
Now Mr Huhne obviously thinks that all pensioners are like him with a string of properties but oddly enough did not mention the impact of wealthy people like himself on property prices! Mind you he once said more people did not mean more unemployment so a track record there of bonkers remarks!